...MISSION & VISION STATEMENTS FedEx & Google Mission & Vision Statement Analysis Prepared for Prepared by October, 2013 MISSION STATEMENT “Mission statement is a description of what an organization actually does – what its business is – and why it does it.” Often called the “credo”, “philosophy”, “core values” or “our aspirations”, organization’s mission is the statement that defines its core purpose or reason for being. It tells who a company is and what it does. According to P. Drucker, often called the father of modern management, a mission is the primary guidance in creating plans, strategies or making daily decisions. It is an important communication tool that conveys information about organization’s products, services, targeted customers, geographic markets, philosophies, values and plans for future growth to all of its stakeholders. In other words, every major reason why company exists must be reflected in its mission, so any employee, supplier, customer or community would understand the driving force behind organization’s operations. There are two types of statements: * Customer-oriented missions. Customer-oriented missions define organization’s purpose in terms of meeting customer needs or providing solutions for them. For example, Nokia’s statement “connecting people” is customer-oriented. * Product-oriented missions. Product-oriented missions focus on what products or services to serve rather than what solutions to provide for...
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...Chapter 2: The Business Vision and Mission CHAPTER 2 THE BUSINESS VISION AND MISSION I. WHAT DO WE WANT TO BECOME? It is especially important for managers and executives in any organization to agree on the basic vision that the firm strives to achieve in the long term. A. Importance of a Vision Statement 1. A vision statement should answer the basic question, “What do we want to become?” A clear vision provides the foundation for developing a comprehensive mission statement. 2. Many organizations have both a vision and a mission statement, but the vision statement should be established first and foremost. a. The vision statement should be short, preferably one sentence, and as many managers as possible should have input into developing the statement. b. The next table provides examples of several vision statements. Tyson Foods’ vision is to be the world’s first choice for protein solutions while maximizing shareholder value. General Motors’ vision is to be the world leader in transportation products and related services. PepsiCo’s responsibility is to continually improve all aspects of the world in which we operate – environment, social, economic – creating a better tomorrow than today. Dell’s vision is to create a company culture where environmental excellence is second nature. Page 1 of 7 Chapter 2: The Business Vision and Mission II. WHAT IS OUR BUSINESS? A. Mission Statements 1. Peter Drucker says that asking the question, “What is our business...
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...The Business Vision & Mission Vision * “The last thing IBM needs right now is a vision.” (July 1993) * “What IBM needs most right now is a vision.” (March 1996) – Louis V. Gerstner, Jr., CEO, IBM Corporation * Agreement on the basic vision for which the firm strives to achieve in the long run is critically important to the firm’s success. * “What do we want to become?” Comprehensive Mission Statement Clear Business Vision Vision & Mission Shared Vision – * Creates commonality of interests * Reduce daily monotony * Provides opportunity & challenge Vision Statement Examples * Tyson Foods’ vision is to be the world’s first choice for protein solutions while maximizing shareholder value. * General Motors’ vision is to be the world leader in transportation products and related services. * PepsiCo’s responsibility is to continually improve all aspects of the world in which we operate – environment, social, economic – creating a better tomorrow than today * Dell’s vision is to create a company culture where environmental excellence is second nature. Mission Statements – 90% of all companies have used a mission statement in the previous five years * “What is our business?” * Enduring statement of purpose * Distinguishes one firm from another * Declares the firm’s reason for being * Also referred to as: * Creed statement * Statement of purpose ...
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...Business Vision & Mission Vision “What do we want to become?” Vision Statement Examples General Motors’ vision is to be the world leader in transportation products and related services. Ch 2 -2 Vision Clear Business Vision Comprehensive Mission Statement Ch 2 -3 Mission Statement • Answers the question: – “What is our business?” • An enduring statement of purpose that distinguishes one organization from other similar enterprises • A declaration of an organization’s “reason for being” Ch 2 -4 Mission Statements are also called • • • • • • Creed statement Statement of purpose Statement of philosophy Statement of beliefs Statement of business principles A statement “defining our business” Ch 2 -5 Mission Statement Examples Proctor & Gamble provides branded products and services of superior quality and value that improve the lives of the world’s consumers. As a result, consumers reward us with industry leadership in sales, profit, and value creation, allowing our people, our shareholders, and the communities in which we live and work to prosper. Ch 2 -6 Vision & Mission • Great benefits can be achieved if an organization – Systematically revisits their vision and mission statement – Treats them as living documents – Considers them to be an integral part of the firm’s culture Ch 2 -7 Vision & Mission Shared vision creates a community of interests Ch 2 -8 Developing Vision & Mission Participation...
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...Chapter 2 Company Mission Chapter Summary Defining the mission statement for a company is often one of the most slighted tasks in strategic management. It is much easier for many executives to emphasize operational aspects of long-term management activities rather than making sure short-term activities are in sync with the long-term goals. The principal value of the mission statement is its specification of the firm’s ultimate aims. A firm gains a heightened sense of purpose when its board of directors and its top executives address these issues: “What business are we in?” “What customers do we serve?” and “Why does this organization exist?” Ambiguous generalizations are not enough to address these questions. A firm must clearly articulate its long-term intentions if it expects its goals to serve as a basis for shared expectations, planning, and performance evaluation. A mission statement that is clearly articulated can promote a sense of shared expectations among all levels and generations of employees. It consolidates values over time and across individuals and interest groups. The firm’s sense of worth and intent can be clearly identified by outside stakeholders. Lastly, it asserts the firm’s commitment to responsible action in symbiosis with the preservation and protection of the essential claims of insider stakeholders’ survival, growth, and profitability. Learning Objectives 1. Describe a company mission and explain its value. 2. Explain why it is...
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...Cisco Systems, Inc. - Organizational Behavior and Communication University of Phoenix Communication for Accountants COM/530 January 14, 2013 Abstract An organization’s espoused values are the mission, philosophy, vision, and value statements. These statements represent what the organization values and the enacted values show what the company does. This paper will show the alignment between the espoused values and the enacted values along with describing how the role of communication influences the perception and organizational culture and identify the role of conflict in group communication in Cisco Systems, Incorporated. Cisco Systems, Inc. - Organizational Behavior and Communication The values of an organization originate from the organization’s mission, philosophy, values, and vision statements. How the organization performs may be the same or different from its values. The intention of this paper is to establish if not only Cisco Systems’ espoused values align with its enacted values but also describe how the role of communication plays in the perception and organizational culture along with observing the role of conflict in group communication. Organizational Culture “Cisco Systems remains the world’s largest provider of the routers, switching systems and related hardware, and software and services needed to interconnect computers and make high-speed telecommunications possible” (Cisco System, Inc., 2010, p. 27). One reason Cisco Systems is at the top of...
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...Contrast Vision and Mission Statement” INTRODUCTION: “If you fail to plan you plan to fail” this magnificence statement reflects how is important to have a plan whether for your life or your entrepreneurship. Also, if you do not know what you want to get is, you won’t achieve any things; simply in other meaning, properly you will not achieve success by coincidence. Therefore, you have to determine what you want before creating your plan, which will lead us to talk about the mission and vision in order to achieve our goals. Vision Statements and Mission Statements are the inspiring words chosen by successful leaders to clearly and concisely convey the direction of the organization. By crafting a clear mission statement and vision statement, you can powerfully communicate your intentions and motivate your team or organization to realize an attractive and inspiring common vision of the future. Over the last few years, there has been a substantial body of business research leading to the inescapable conclusion that those companies that specifically state where they are going and why do remarkably better than those who do not. Accordingly, organizations that do not take the time to develop missions are often ineffective. This paper describes the nature and importance of organizational vision and mission statements. Guidelines are presented for preparing vision statement and mission statements, with comparing and contrasting between vision and mission statements, supported...
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...The Business Vision and Mission Learning Outcomes After studying this unit, you should be able to do the following: ➢ Describe the nature and role of vision and mission statements in strategic management ➢ Discuss why the process of developing a mission statement is as important as the resulting document ➢ Identify the components of mission statements ➢ Discuss how clear vision and mission statements can benefit other strategic management activities ➢ Evaluate mission statements of different organisations ➢ Write good vision and mission statements What Do We Want to Become? It is especially important for managers and executives in any organization to agree upon the basic vision that the firm strives to achieve in the long term. A vision statement should answer the basic question, “What do we want to become?” A clear vision provides the foundation for developing a comprehensive mission statement. Many organizations have both a vision and mission statement, but the vision statement should be established first and foremost. The vision statement should be short, preferably one sentence, and as many managers as possible should have input into developing the statement. Several example vision statements: ➢ The Vision of the National Pawnbrokers Association is to have complete and vibrant membership that enjoys a positive public and political image and is the focal organization of all pawn associations. - National...
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...variety involves vision, mission and outside-of-the-box thinking”, (Evans, 2010). Formulating a strategic plan helps executives to make an organized road map that spells out where an organization is going over the next year or more and how it’s going to get there. “Strategic management is the set of decisions and actions that result in the formulation and implementation of plans designed to achieve a company’s objectives,” (Pearce, 2013). These decisions are based on the strategic management process, a flow of information that moves through interrelated stages of analysis towards a future goal. The information involved in this process is historical, current, and forecast data on the operation and environment of a business, (Pearce, 2013). Considering the values and priorities of influential groups like stakeholders, managers evaluate the data found in strategic management process and formulate strategy that achieves the company’s long-term mission. Establishing a vision, mission, purpose, and philosophy or goal is another important part of strategic planning. A company mission is, “The unique purpose that sets a company apart from others of its type and identifies the scope of its operations in product, market, and technology terms”, (Pearce, 2013). Developing a mission is important for a company because it can define the product, market, and technological area of emphasis, while highlighting their values and priorities. A statement of the company’s philosophy, also known as...
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...CHAPTER 2 The Business Vision and Mission True/False Introduction 1. Vision and mission statements can often be found in the front of annual reports. Ans: T Page: 56 2. Although it is important for companies to have a clearly defined mission statement, research has shown that less than 50% of all companies have used a mission statement in the previous five years. Ans: F Page: 56 What Do We Want To Become? 3. The foundation for development of a comprehensive mission statement is provided by a clear vision. Ans: T Page: 56 4. The mission statement should be short—preferably one sentence. Ans: F Page: 56 5. When developing a vision statement, input should be received from as many managers as possible. Ans: T Page: 56 6. If an organization chooses to have both a mission and a vision, the mission statement should be established first. Ans: F Page: 56 What Is Our Business? 7. According to Peter Drucker, asking the question “What is our business?” is synonymous with asking the question “What is our vision?” Ans: F Page: 59 8. A declaration of an organization’s “reason for being” is the mission statement. Ans: T Page: 59 9. A mission statement, sometimes called a creed statement, can be defined as an “enduring statement of purpose that distinguishes one organization from other similar enterprises...
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...ANALYSIS OF VISION Empire Prospect’s vision statement : ‘A telecommunication specialist contractors as our core business, always developing business as civilian contractors and suppliers, sharing sustenance and expertise with staff and community, produce and create a knowledgeable staff and self-reliance. Component | Empire Prospect | 1. The company wants to become what in the future? | Empire Prospect stated that they want to be a telecommunication specialist contractors as their core business. | 2. Did the company involve all the elements and the members? | The phase “ sharing sustenance and expertise with staff and community” refers to the involvement of the elements and members of the company. | 3. Is the company showing the image and capability as shown in the vision? | The phase “always developing business as civilian contractors and suppliers” imply that the capabilities of the company to achieve. | 4. The company guide, shape, gives direction and purpose and can serve as powerful motivator or not? | Emipre Prospect showed that they can serves as the direction and purpose of the company is by “sharing sustenance and expertise with staff and community, produce and create a knowledgeable staff and self-reliance”. | 5. Did the vision aligned with the core values of the firm? | The word “produce and create a knowledgeable staff and self-reliance” in the vision statement indicates the core values of the company. | 6. The vision statement has to...
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...Organizational Purpose, Mission, and Philosophy Of all the variables that make up the internal environment, organizational purpose, mission, and philosophy should be examined first because it is here that one gains an understanding of the mission and vision that is intended to provide the logic and the organizing theme for all the other variables. Brody (1993) describes a mission statement as follows: A good mission statement should be lofty and inspiring, concise, capable of being easily understood and remembered, should reflect the organization’s fundamental purpose, and should indicate what the organization wants to accomplish in relation to the beneficiaries of its work. (pp. 46–47) Mission statements should be stated in terms of the agency’s projected ideal outcomes for the populations served. For example, an adoption agency may state that its mission is that every child who comes for service will achieve his or her fullest potential in a loving and nurturing adoptive home. As an inspirational statement, the mission provides the basis for the shared vision that Peters and Waterman (1982) found to be a necessary ingredient for excellent organizations. Organizations sometimes attempt to accomplish too much with a mission statement and incorporate program description as well. When a mission statement includes the term provide or some synonym, the statement goes beyond the definition of mission to program description. The National Network for Social Work Managers...
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...Decision Making 18 STRATEGIC VISION A specialist was hired to develop and present a series of half-day training seminars on empowerment and teamwork for the managers of a large international oil company. Fifteen minutes into the first presentation, he took a headlong plunge into the trap of assumption. With great intent, he laid the groundwork for what he considered the heart of empowerment-team-building, family, and community. He praised the need for energy, commitment, and passion for production. At what he thought was the appropriate time, he asked the group of 40 managers the simple question on which he was to ground his entire talk: "What is the vision of your company?" No one raised a hand. The speaker thought they might be shy, so he gently encouraged them. The room grew deadly silent. Everyone was looking at everyone else, and he had a sinking sensation in his stomach. "Your company does have a vision, doesn't it?" he asked. A few people shrugged, and a few shook their heads. He was dumbfounded. How could any group or individual strive toward greatness and mastery without a vision? That's exactly the point. They can't. They can maintain, they can survive; but they can't expect to achieve greatness. Mapes (1991) SKY Magazine Vision is a widely used term, but not well understood. Perhaps leaders don't understand what vision is, or why it is important. One strategic leader is quoted as saying, "I've come to believe that we need a vision to guide us, but I can't seem...
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...Chapter 2 The Business Vision & Mission Strategic Management: Concepts & Cases 13th Edition Fred David Ch 2 -1 Ch 2 -2 Vision Vision Agreement on the basic vision for which the firm strives to achieve in the long term is especially important. “What do we want to become?” Ch 2 -3 Ch 2 -4 Vision Statement Examples Vision Statement Examples PepsiCo’s responsibility is to continually improve all aspects of the world in which we operate – environment, social, economic – creating a better tomorrow than today. Dell’s vision is to create a company culture where environmental excellence is second nature. Ch 2 -5 Ch 2 -6 1 Vision Mission Statement Clear Business Vision Answers the question: “What is our business?” Comprehensive Mission Statement Reveals: what the organization wants to be whom we want to serve Ch 2 -8 Ch 2 -7 Mission Statement Mission Statements are also called An enduring statement of purpose that distinguishes one organization from other similar enterprises A declaration of an organization’s “reason for being” Creed statement Statement of purpose Statement of philosophy Statement of beliefs Statement of business principles A statement “defining our business” Ch 2 -10 Ch 2 -9 Mission Statement Examples We aspire to make PepsiCo the world’s premier consumer products company, focused on convenient foods and beverages. We seek to produce healthy...
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...2.1 Vision and Mission Vision and mission statements summarize strategy of a company in a form that can be communicate and understand easily by management and stockholder. A vision statement should not be confused with mission statement as both statements taking part in two distinctive aspects. As indicated in the strategic management model, vision and mission are indispensable. A vision statement describes as a blueprint of what an organization sees itself to be in the future. Therefore, a vision statement must able to answer the question, “What do we want to become?” because main function of vision statement is to communicate to the stakeholder where the organization desires and aspires to be. Generally an effective vision statement is usually short phrases and concise. Besides, development of a vision statement must be established first prior to the mission statement because vision statement as a cornerstone to form and design an effective mission statement. Thus, manager and employees in an organization should devote valuable inputs and participate to the development of a vision statement, so that they acknowledge and embrace the direction and future that the organization is heading. Furthermore, mission statement declaring an organization’s purpose and reason for being. A mission statement should seek to attempt to answer the question, “What is our business?”. It expressed an organization’s core values, business principles, philosophies, beliefs and attitudes that...
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